Is AARP Life Insurance Legit? A Comprehensive Guide

An image for illustration of AARP insurance — AARP life insurance is a benefit for its members who are 50 or older. But is it a good deal? Learn the types, costs, pros, and cons of AARP life insurance in this comprehensive guide. Image Credit: Getty Images

I am a member of AARP, a nonprofit organization that supports individuals aged 50 and older with various benefits and services.

Among these benefits is the AARP Life Insurance Program, a collection of policies underwritten by New York Life, a highly reputable life insurance company in the US.

This program caters to the needs of AARP members, offering choices like term life, permanent life, guaranteed acceptance life, and options plans.

Curious about the legitimacy of AARP life insurance and how it stacks up against other options?

Interested in the pros and cons of choosing life insurance through AARP?

In this article, I will provide answers to help you decide if AARP life insurance is the right fit for you.

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How Much Is AARP Life Insurance a Month?

The cost of AARP life insurance depends on a few things, like the type of policy, how much coverage you want, your age, and how healthy you are.

Generally, term life insurance costs less than permanent life insurance, and if you want less coverage, it is cheaper than if you want more.

Plus, if you are younger and in good health, you will pay less than if you are older or not as healthy.

And if you pay once a year instead of every month, it is cheaper.

Let me give you some examples of the monthly premiums for AARP life insurance based on their website rates:

For AARP Term Life Insurance:

If you are a 50-year-old guy who doesn’t smoke, you can get $50,000 coverage for $21.50 per month or $100,000 coverage for $38.50 per month.
If you are a 70-year-old guy who doesn’t smoke, $50,000 coverage would be $144.50 per month, or $100,000 coverage for $283.50 per month.

For AARP Permanent Life Insurance:

A 50-year-old non-smoking guy can get $10,000 coverage for $35.50 per month or $20,000 coverage for $69.00 per month.
A 70-year-old non-smoking guy would pay $97.00 per month for $10,000 coverage or $191.00 per month for $20,000 coverage.

For AARP Guaranteed Acceptance Life Insurance:

A 50-year-old non-smoker can get $5,000 coverage for $23.50 per month or $10,000 coverage for $45.00 per month.
A 70-year-old non-smoker would pay $64.00 per month for $5,000 coverage or $125.00 per month for $10,000 coverage.

For AARP Options Plans:

If you are a 50-year-old non-smoker, $10,000 coverage is $28.00 per month, or $20,000 coverage for $54.00 per month.
A 70-year-old non-smoker would pay $76.00 per month for $10,000 coverage or $149.00 per month for $20,000 coverage.

AARP Life Insurance Rates by Age

This shows the life insurance rates for nonsmokers

Age Range	Term Life	Permanent Life	Guaranteed Acceptance	Options Plans
50-54	$21.50	$35.50	$23.50	$28.00
55-59	$28.00	$44.00	$29.00	$35.00

AARP Life Insurance Reviews BBB

I checked the Better Business Bureau (BBB), a nonprofit organization that rates and reviews businesses based on factors like customer service, transparency, and ethical practices.

The AARP Life Insurance Program, underwritten by New York Life, holds an A+ rating from the BBB, the highest possible.

However, I also noticed 66 complaints and 10 reviews about the program in the last three years, with an average rating of 1.2 out of 5 stars.

Most concerns revolved around high premiums, low coverage amounts, cancellation fees, claim denials, and unsatisfactory customer service.

Some customers felt misled, not receiving the expected benefits or services.

AARP Insurance

AARP insurance encompasses various insurance products and services offered or endorsed by AARP.

This includes life insurance, health insurance, dental insurance, vision insurance, pet insurance, home insurance, auto insurance, and travel insurance.

These insurance offerings are provided by different companies and partners in collaboration with AARP.

AARP members can avail of these products and services at discounted rates or with exclusive benefits tailored to meet the needs of individuals aged 50 or older.

It is important to note that AARP insurance is not a single entity but a collective representation of diverse companies and partners collaborating with AARP.

AARP Life Insurance Phone Number

If you need assistance with the AARP Life Insurance Program from New York Life, you can reach out to customer service through various channels.

The AARP life insurance phone number is (800) 850-2658., available Monday to Friday from 8 a.m. to 8 p.m. (ET).

You can also contact customer service via email at nylaarp.service@newyorkLife.com or by mail at New York Life Insurance Company, AARP Operations, 5505 West Cypress Street, Tampa, FL 33607.

For direct contact with AARP, call 1-888-687-2277 or visit their website at www.aarp.org.

AARP Whole Life Insurance

AARP whole life insurance, part of the AARP Life Insurance Program from New York Life, is a form of permanent life insurance providing lifelong coverage with consistent premium payments.

This coverage also includes a cash value component, functioning as a growing savings account accessible through loans or withdrawals.

Two options are available: AARP Permanent Life Insurance, offering coverage up to $50,000 without a medical exam or premium increases, and AARP Options Plans, providing customizable plans to complement retirement savings.

The Options Plans require a medical exam, offer up to $100,000 in coverage, and feature flexible premium payments.

AARP Life Insurance for Older People Over 60

AARP provides different life insurance options customized for members aged 60 and above.

This comprises AARP Term Life Insurance, AARP Permanent Life Insurance, AARP Guaranteed Acceptance Life Insurance, and AARP Options Plans.

Crafted with the needs of older individuals in mind, these insurance plans strive to offer financial security and peace of mind.

Some benefits of AARP life insurance for individuals over 60 may involve no medical exams, guaranteed acceptance, and exclusive perks.

However, it Is crucial to be mindful of potential drawbacks, like higher premiums and lower coverage amounts.